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Just Paid $36,000 in Revolving Debt

tag
CS800
Super Contributor

Re: Just Paid $36,000 in Revolving Debt

Your siggy says 767. Was that your fico before paying your balances?



Message 11 of 18
Uncle_Money
Established Contributor

Re: Just Paid $36,000 in Revolving Debt

It dropped into the low 700s so I took a hit. Amazing how much utilization impacts score.

Personal: American Express Platinum - NPSL | American Express Blue Cash Preferred - $15,000 | Chase Sapphire Reserve - $38,500 | Chase Amazon Prime Visa - $7,200 | Chase Freedom - $500 | Barclaycard Arrival+ - $18,600 | PenFed Platinum Rewards - $25,000 | PenFed LOC - $10,000 | Navy Federal Credit Union Platinum Visa - $25,000 | Navy Federal Credit Union LOC - $10,000 | Citi Double Cash - $12,170 | Citizens Cash Back+ - $8,650 | Citizens LOC Overdraft - $8,000 | Discover - $10,000 | Capital One Quicksilver One - $3,600 | Capital One Platinum - $750 | Valero - $600 | Dell - $3,000 | Lowes Advantage - $30,000 | Macys Amex - $25,000 | The Home Depot - $7,500 | Tourneau - $15,000
Business: American Express Business Platinum Card - NPSL | American Express Plum Card - NPSL | American Express SimplyCash Plus - $10,000 | American Express Gold Card - NPSL | Bank of America Cash Rewards - $100,000 | Capital One Spark Business - $54,000 | Chase Business Preferred - $34,000 | Chase Business Ink - $15,000 | PNC Bank Cash Rewards Visa Signature - $19,000 | PNC LOC $100,000 | BP Business Solutions - $1,500 | KeyBank Mastercard - $6,000 | Staples More Account - $3,500

Message 12 of 18
the_jan_b
Established Contributor

Re: Just Paid $36,000 in Revolving Debt

 

Congrats!!

 

Enjoying your freedom? Thank a servicemember and their family!

In the garden since 26 Jun 14...

I am digitaldiva's alter-ego


Message 13 of 18
mAndrew1980
Established Contributor

Re: Just Paid $36,000 in Revolving Debt

Wow. That is a MASSIVE payment. The largest credit card payment I've ever made was $600 -- and that is when I paid off my iPad.

Transunion: 713 FICO (5/13/2014) MyFico
Experian: 789 FICO (4/10/12) Lender Pull
Equifax: 695 FICO (1/10/14) MyFico

My cards: Chase United Mileage Plus 7000CL (3/12), CITI Simplicity 1800CL (9/12), Cap1 Platinum 1000CL (2/10), Cap1 Cash back 1500CL (11/11), Apple Barclay's 2500CL (11/11), Discover IT 6000CL (5/13)

My Primary Financial Goal is to put down my utl%.



Message 14 of 18
tntexans72
Valued Contributor

Re: Just Paid $36,000 in Revolving Debt

Util % makes up 35% of your Fico scoring....you are going to see a nice increase once it report IMHO. Congrats !!

Message 15 of 18
Anonymous
Not applicable

Re: Just Paid $36,000 in Revolving Debt


@Uncle_Money wrote:

It dropped into the low 700s so I took a hit. Amazing how much utilization impacts score.



Oh yeah!  

 

Congrats on paying them back down - sounds like you had a high utilization for just a short time.  Keep us posted on your score changes.

Message 16 of 18
Anonymous
Not applicable

Re: Just Paid $36,000 in Revolving Debt


@MarineVietVet wrote:

@Uncle_Money wrote:

I know it will drop my utilization but I'm wondering the score effect it will have?


What was the utilization before the pay down and what will it be now?

 

 


+1

 

This infomation could help us give you a general-ish idea, of what you might expect to see scorewise.

 

And do you know your current EQ FICO?

 

I assume the score you have in your siggy is outdated?

 

ETA: Super Congrats, that is an amazing amount to pay down at once, great job!!

 

Message 17 of 18
frogfan12
Established Contributor

Re: Just Paid $36,000 in Revolving Debt

Congrats! It's such a good feeling when you pay off CCs. Smiley Happy


Starting Score: 760
Current Score: 716 Equifax 754 TU 736 Experian
Goal Score: 760
Message 18 of 18
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